Disposal & Acquisition of Offices
Leasing offices is the backbone of our business – both disposal and acquisition.
Advising clients in the acquisition process involves firstly, locating the offices through a variety of databases, contacts and specialist knowledge. We arrange inspections of potentially suitable properties, help clients draw up a short list, negotiate best terms and then work with solicitors. This is more than just a hand-holding exercise - we aim to become the in-house estates department and all the variables of a negotiation are brought in to play – not just the principal financial terms such as the rent and rent free period, but break clauses, ‘cap and collar’ at rent review, service charge caps and many other issues.
When disposing of offices, we use a variety of marketing methods – both traditional and modern – aiming to identify the most appropriate tenant as quickly as possible and, thereafter, to negotiate the most favourable terms for our clients.
We pride ourselves on our energy, enthusiasm, and originality of approach.
For further information contact any of the Partners.
Development Advice
We are regularly appointed by developers and investors at the outset of the development process to advise on all aspects of a scheme from site acquisition, specification and finishes to the likely needs of tenants and rental levels. Our involvement takes us through the duration of the development, the marketing campaign and culminates with the successful disposal.
For further information contact any of the Partners.
Rent Reviews
Eagerly awaited by landlords in good times and always a source of great worry to tenants, valuation for rent review is a potential minefield where professional representation is essential.
Assessment of market rental value is rooted in agency. What would the premises let for upon the terms of a hypothetical lease created by the wording of the rent review clause within the lease? A successful rent review surveyor will have first-hand knowledge of the market value of buildings in their area of expertise and the technical ability to assess location, specification and lease terms by comparison with the market evidence. We have the ability to negotiate effectively in the best interest of our client and to present evidence to arbitrators and independent experts in an effective and honest manner.
For further information contact David Fryman
Lease Renewals
Lease expiries are opportunities for occupiers to relocate or renew their lease.
Whilst an increasing number of leases are ‘Outside’ the Security of Tenure Provisions of the Landlord and Tenant Act 1954 resulting in tenants having no automatic rights to a new lease, the vast majority still enjoy the protection of the Act. Statutory lease renewals are increasingly complex projects, on which we work with our client's solicitor often from in excess of a year before the contractual expiry date to ensure that the relevant Notices are served to best tactical effect, application to the Court is made and negotiations conducted with the opposite side. In the event that a negotiated settlement is not reached, the matter proceeds to Court, involving the preparation of expert’s reports and the giving of oral evidence in Court.
In a volatile market a landlord and tenant surveyor must have the confidence and market knowledge to be able to advise a client when to wage war and when to compromise a dispute.
For further information contact David Fryman
Lease Restructure
In the current weak market tenants with Options to Determine their lease or a willingness to extend their leases are often well placed to radically alter the terms of their occupation, often obtaining substantial immediate benefit by way of a capital sum, rent free period or reduced rent.
We act for both Landlords and Tenants in such negotiations.
For further information contact any of the Partners.
Business Rates
The 2010 Rating Revaluation comes into force on 1 April 2010 and will, subject to transitional phasing considerations, form the basis of rates payment for 5 years from that date. Rates are a substantial business outgoing. All rating assessments should be investigated, appealed where appropriate and a watching brief kept so that material changes, such as part vacation or adjacent building works can be properly reflected in rates liability.
Rating has become a very specialist field of valuation and Edward Charles and Partners offer a rating service through specialist, Robert Dickman of Chartered Surveyors, Fletcher King.
Read our 2010 Rating Revaluation briefing note (pdf)
For further information contact any of the Partners.